Weekly Magalia Real Estae Market Update

Spring has definitely set in. The sun is shining a little brighter this week and we are seeing a slight pick up in the Magalia real estate market. In my opinion that is cause for a smile!!

This past week we had 4 properties close escrow and another 4 properties go under agreement. We also saw 17 properties experience price reductions signaling that Magalia area sellers are still trying to get the attention of Magalia buyers. There was a slight change in the areas of activity this past week, with singe family homes between $350,000 and $400,000 seeing 20% of their listings now under agreement. The manufactured homes still remain the strongest in this Magalia real estate market. Interest rates went up just a bit to 6.24% for a 30 year fixed rate mortgage.